Baobab Resources plc (BAO:AIM) is a Mozambique focused iron ore, base and precious metal explorer. The company has a large land-holding covering five discrete project areas. The Tete iron ore asset is emerging as Baobab’s flagship project. Tete magnetite/vanadium (± titanium) project  Large tonnage potential.  Close to critical infrastructure and resources.  Strategic partnership with IFC.  Maiden drilling programme completed  Initial resource estimate expected Q4 2009. IFC (International Finance Corporation) is a strategic partner and shareholder in Baobab Resources Plc, holding 11.45% of the issued share capital. In January 2009, IFC acquired a 15% direct interesting the Tete project. Mozambique is a country of abundant mineral wealth which has been hitherto under-exploited, good infrastructure and investor-friendly legislation which make it an attractive destination for mining companies. Baobab's board and management have extensive technical and administrative operating experience in Africa and are confident of creating shareholder value from its assets.